Lesson 1303 of 1524
Retailing and Wholesaling
Retailers may have a storefront; non-store retailers usually sell through direct mail and catalogs, vending machines, direct selling, online sites, TV home shopping, and telemarketing.
Practice this chapterRetailers may have a storefront; non-store retailers usually sell through direct mail and catalogs, vending machines, direct selling, online sites, TV home shopping, and telemarketing. Both add value to the product by ensuring assorted merchandise is available when and where customers want it and at an acceptable price.
Retailers buy products from manufacturing firms or wholesalers and provide them for sale to the consumer
wholesaling — the business of buying goods in bulk at a discount from a manufacturer or other distribution channel member and selling them retailers for a higher price. retailing — the process of selling goods and services to consumers. store retailer — a traditional brick-and-mortar establishment where products are displayed for customers to purchase. merchandise — the goods that are being offered for sale by a retailer.
Worked example
What does “wholesaling” mean in Retailing and Wholesaling?
- 1Use the wording this chapter gives for wholesaling.
- 2The book says: the business of buying goods in bulk at a discount from a manufacturer or other distribution channel member and selling them retailers for a higher price.
- 3Do not use the meaning of retailing. That term means the process of selling goods and services to consumers.
Result: the business of buying goods in bulk at a discount from a manufacturer or other distribution channel member and selling them retailers for a higher price
Why. That is the meaning this chapter gives for wholesaling.
Do not swap wholesaling and retailing. wholesaling means the business of buying goods in bulk at a discount from a manufacturer or other distribution channel member and selling them retailers for a higher price. retailing means the process of selling goods and services to consumers.
Practice margin
This chapter
A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.